Cel Sci Corporation (CVM)

[samlion1]

CEL-SCI Corp initiated with a Buy at H.C. Wainwright; tgt $18
9:58 AM ET 1/13/20 | Briefing.com
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12:44 PM ET 1/13/20
Symbol Last % Chg
CVM
9.01 15.81%
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. H.C. Wainwright initiates CVM with a Buy and price target of $18. Analyst Vernon Bernardino said, "CELSCI is a clinical-stage biotechnology company focused on developing therapies that activate the immune system to fight cancer and infectious diseases...While IDMC updates generally provide limited insight into the status of an ongoing clinical trial, the Multikine Phase 3 trial was initiated in 2011 and has been ongoing for approximately eight years, with the last patient enrolled in 2016. We believe reviews the IDMC conducted in 2019 point to an overall survival (OS) benefit with Multikine, and thus, we do not look for the next IDMC review, expected in 2Q20, as required for further confirmation. At this point, we believe ethical issues may need to be considering in continuing the Phase 3 trial, and look for CEL-SCI to pursue a discussion with the FDA and EMA for a regulatory decision that results in the Phase 3 trial being unblinded in 2H20. We believe the potential for Multikine to achieve better survival outcomes remains underappreciated."